Terms used in business such as Bank statement,Bankers Hours,Bankruptcy ,Bean Counter,Beanfeast etc.
This post explains about terms used in business such as Bank statement,Bankers Hours,Bankruptcy ,Bean Counter,Beanfeast,Bear Raid,Bell Curve,Behemoth,Benchmark etc.These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
Terms used in business
Bank statement: A monthly statement of account which a bank renders to each of its depositors.
Bank-based Corporate Governance System - A system of corporate governance in which the supervisory board is dominated by bankers and other corporate insiders.
Banker's Acceptance - A time draft drawn on and accepted by a commercial bank.
Banker's draft: a bill of exchange payable on demand and drawn by one bank on another. Regarded as being equivalent to cash, the draft cannot be returned unpaid.
Bankers Hours - A short working day, often with a long lunch break.
Bankrupt:A bankrupt is a debtor who is unable to pay his creditors in full. He has been adjudged a bankrupt by a court and has given the whole of his estate to the official assignee to be realized, as far as possible for payment of his debt.
Bankruptcy - a process where an individual is legally declared bankrupt and their assets and financial affairs are administered by an appointed trustee.
Banner advertising : The use of rectangular advertisements or logos across the width of a page on a Web site.
Banner Exchange: an advertising program in which one merchant induces others to place his or her banners and buttons on their Web sites in return for similarly displaying theirs.
Bar Code / Code à barres :Code made up of black vertical lines that represent numbers, used for identifying various objects and products.
Bar Coding: The process of attaching a machine-readable code to a product, package, container, or sub-assembly, and using a scanner to relate its location to the product characteristics.
Barista - A person who is a professional speciality coffee maker, for example, cappuccino, latte, espresso, etc.
Barratry:It is a marine insurance term, which signifies an unlawful or fraudulent act, or gross and culpable negligence of the master or crew of a ship in violation of his duty as such and to the prejudice of the owners or chatterers.
Barren money: money that is unproductive because it is not invested.
Barter - Trade in which merchandise is exchanged directly for others without use of money or the involvement of a 3rd party.
Barter Trade:Trade between persons, organizations or countries occurred on the basis of exchange of one commodity by another, is called barter trade.
Base / Assiette :Base for levying a tax.
Base 2 - Also known as the binary system, which is the basis of computer logic. Normal counting is based on 0-9. Binary just has 0-1, which means a new column is started after two, not nine. Binary counting does not go 1, 2, 3, 4, etc. It goes 0, 1, 10, 11, 100, 101, etc. Other than for computing it's not very practical.
Basel Convention - An international treaty concerned with restricting the movement of hazardous wastes between countries, especially from developed to underdeveloped countries.
Bathtub Curve - A U-shaped graph, often long horizontally - resembling a bathtub - representing high incidence or measure at the beginning and finish (far left and far right of graph) of a life-cycle or lifetime or period, with much lower incidence over a relatively long middle period (middle of graph), for example when measuring engineering failures in a product over time, in which early development teething problems produce high failure rates, tending to reduce to lower failure rates due to uncommon random faults, with failure rates again peaking at the end of product life, due to natural 'wear and tear'/exhaustion/erosion of components and construction. A Bathtub Curve may also equate to a U-shaped graph, for example in describing a type of recession which contains a prolonged period at the lowest point, i.e., a U-shaped recession. See also 'bell curve' below.
Bean Counter - An informal derogatory term for an accountant, especially one who is perceived or suggested to be overly concerned about expenditure detail.
Beanfeast - Also known as a beano - an annual party, dinner, or outing given by an employer for its employees.
Bear Market - In the stock market a period of declining prices in which investors continue selling shares, expecting the prices to fall further.
Bear Raid - The practice, in the stock market, of attempting to push the price of a stock lower by selling in large numbers and often spreading unfavourable rumours about the company concerned.
Bear:A bear is a broker on the stock exchange who sells shares, stocks or other securities for future delivery anticipating a fall in price. At the time of making a contract of sale, he does not possess such securities. He anticipates that their prices would decline so that when the time for delivery of those shares or stocks arrives, he may be able to buy them at lower price and deliver ‘them at contracted (higher) price and thus to realize a profit.
Bearer Cheque: A bearer check is one, which bears the words “Or Bearer” across its face after the name of the payee. ‘Or Bearer’ means the cheque is payable to anyone who bears and presents it to the bank for payment. It can be negotiated or cashed without the endorsement of the payee.
Bearish: Relsting to unfavorable business conditions or selling activity in anticipation of falling prices. (see Bullish)
Behemoth - A large and powerful organisation. (originally from Hebrew, behemot - beast)
Bell Curve - Survey/sample distribution term. 'Bell curve' is the common informal term for a graph with a large rounded peak in the middle, sloping sharply to the right and left and then tapering more gently at the extreme ends of the graph. It's a bell-shape, hence the name. The term 'bell curve' refers also to this sort of statistical distribution, even if it is not actually graphed. Technically in probability theory, mathematics and marketing, etc., the 'bell curve' is 'normal' distribution or Gaussian distribution (after German mathematician ohann Carl Friedrich Gauss). The bell curve is very commonly exhibited in sampling and surveys, where the vast majority of results/subjects/data tend to concentrate towards the average score, with incidence of variation above and below the average (shown graphically right and left) being roughly equal to each other, and much less than the incidence/results towards the average and majority. Business people often refer to a 'bell curve' when anticipating/explaining a situation where the vast majority of members of an audience or market are very similar, and only a very small minority is outside of the 'norm' or average. This terminology is helpful in emphasizing the needs or tendencies of the big majority, and avoiding distraction by or over-estimating the effect of minority interests/needs, which can cause projects to be distorted unnecessarily. There is a broad correlation between the notion of a 'bell curve' and Pareto theory, also known as the '80-20 Rule', i.e., both concepts highlight the significance of concentration and distribution when assessing opportunity, risk, effectiveness, and the targeting of communications, resources, etc. (Separately note for interest, the contrast between 'bell curve' and 'bathtub curve' graphs and what they mean)
Bells and Whistles - Extra features added often more for show than function, especially on computers, cameras, etc., to make the product more attractive to buyers.
Below The Line - BTL. Describes marketing which has a short-term duration, such as non-media advertising, direct-mail, e-mail, exhibitions, incentives, brochures, etc., which is targeted directly at the consumer/customer. Often used by companies on a limited budget.
Bench Warrant - An order issued by a judge for an absent defendent to be arrested and brought before a court.
Benchmark - a set of conditions against which a product or business is measured.
Benchmark / Benchmark :A continuous and systematic evaluation of the products, services and methods of competitors and/or companies considered to be the best performers.
Benchmarking - the process of comparing your business to similar businesses in your industry.
The above details describes about terms called in business such as Bank statement,Bankers Hours,Bankruptcy ,Bean Counter,Beanfeast,Bear Raid,Bell Curve,Behemoth,Benchmark etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in business trade below this post.Terms used in business such as Bad debts,Balance of Trade,Balance of Trade,Balance Sheet,Bandwidth etc
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